Talaat Mustafa records consolidated profits of LE 374.7M in Q1 2019

CAIRO – 15 May 2019: Talaat Mustafa Group Holding (TMG Holding) announced its consolidated results during the first quarter of 2019, making a profit increase of 10.01 percent, to record LE 374.7 million, compared to LE 340.6 million during the same quarter of 2018.

The financial indicators showed that the total real estate activity income increased during the first quarter of 2019 to reach LE 467.686 million, compared to LE 368.584 million in the same period of the prior year.

As per standalone results, the company accomplished profits of LE 31.53 million, compared to LE 10.63 million during the compared period of the previous year.

Initial indicators showed Tuesday that the company’s net profits hit LE 361.2 million in the three-month period that ended in March, compared to LE 309.35 million in the compared period in 2018.

In 2018, the company reached profits of LE 1.77 billion, compared to LE 1.32 billion in 2017, including minority shareholders’ rights.

Talaat Moustafa Group Holding is a public company, listed on the Egyptian Exchange (EGX) since November 2007.

TMG Holding operates within the real estate sector focusing on real estate development. It has 13 subsidiaries operating across Egypt.

The company’s capital is LE 20.63 billion that are dividend on 2.06 billion shares with a nominal value of LE 10 per share.